Measuring performance is harder than you think

  • Published on

  • View

  • Download


  • Measuring performance is harder than you think 0 2003 E&&w Science Ltd. All rights reserved. This journal end the individual contributions contained in it are protected under copyright by Elsevier Science Ltd. and the

    following terms and conditions apply to their use:

    Photocopying Single photocopies of single articles may be made for personal use 85 allowed by national copyright laws. Permission of the publisher and payment of a fee is required for all other photocopying, including multiple or systematic copying, copying for advertising or promotional purpores. resale, and all forms of da&en& deiiwry. Special rates are available for educational institutions that v&h to make photocopies for non-profit educational classroom use.

    Permissionr may be sought directly from Elsevier Science Rights & Parmitiom Depertment, PO Box SW, Oxford OX5 1DX. UK; phon@: @44J 1865 843830, fax: (+44) 1865 853333, e-mail: pemrWionsWseui@xom. You may also contact Rights & Permissions directly through Elbeviers home page (hn&!&, selecting first Customer Support, then Qneral Information, then Permission Query Form.

    In the USA, users mey clear permissions and make payments tbrowh the Cawiqht Clearance Center, k~, 222 Rorewood Orive.~&mvers,i\kn~l923, USA; phone: (978) 7508400, fax: (978) 75U4744, aodinthe UK through the Copyright Licensing Agency Rapid&erance Service GARCS), 90 Tottenham Court Road, Lo&on WlP Ou: UK; phone: (+44) (01207 436 5931: fax: @M)@}207 631 5500. Other countries may have a local reprographic rights agency for payments.

    fhriuative works Subxribers ltlay reproduce tables of contents or prepare lists of art@4 hukuling abstracts for internal circulation within their utsmitms. Pwmiaion of the publisher is required for resale or distribution ouDidettw institution. Permission of the publisher is requiradfor all other derivative works, including compilations and transfations.

    PahaBsio@of%he put&her is required to store or w.a electronically any maMet contained in this journal, including any article or part of ana&cl@ Cwtect the publisher at the address indicated. Except a$ Mioad above, no pert of this publication may be raproduc&Mred in a r@t&val system or transmitted in any form or by a~ynx!ans, electronic, mechanical, photocopying, recording w@therw&, without prior written permission of the publisher.

    Ad&w perm~tioris rw@&s to: Else&r Science Rights 5 Pam&&w Dapertment, at the mail. fax and e-mail addresses eat&d t&o%

    Strange things have hcen happening recently. With many companies

    reporting a down-turn in profits and &\vn-sizing in st sff numbers you

    would think that the or&r hooks nzx11d he lxrc, but no and in some

    companies far from it. Around this time of year lxlging o&r lxx)ks

    can be amazingly ccxrimonplace. In fact, there are tales of slippliers

    being offered, not asking for, hut actually offered 25% Lvith that or&r.

    It is then you realise that the end of the financial year is upon many of

    us again and last years hard iought for lx&et must hc spent somcholv,

    otherwise how can next years he justified? This is all well and god,

    but it does produce a blip in the performance figures, which can ~nah-e

    other periods look poor hy comparison.

    It is amasing how a set of figures can make or break a business

    operation. Moving money around can sh